ChemChina has agreed with Rosneft to supply 2.4 million tons of oil and on the sale of stakes in the subsidiary.
Edited by Rhod Mackenzie / 2015-06-22 06:50:10
China Finance Oil and Gas Refining Russia Petrochemicals China Oil and Gas Shares Russia Oil and Gas Oil Production and Refining Rosneft
JSC NK "Rosneft" and the Chinese National Chemical Corporation ChemChina signed a direct contract for the supply of oil to China. The contract provides for the supply of up to 200,000 tons of oil per month to China.
The contract is concluded for a period of 1 year - thus, totally according to the contract 2.4 million tons of Russian oil will go to China. In addition, Rosneft and ChemChina signed a memorandum of understanding for the planned acquisition by 30% stake in a subsidiary of the Chinese company - ChemChina Petrochemical Co. Ltd. (CCPC) by Russian Oil Company.
